Dana Incorporated Announces Preliminary 2018 Financial Results and Guidance for 2019
Company expects more than $1 billion in sales growth in 2019,
2019 marks third consecutive year of sales growth of nearly $1 billion, double-digit growth of adjusted EBITDA and free cash flowAcquisition of SME Group enhances electromobility capabilities, extends global reach
Jan 15, 2019
MAUMEE, Ohio, Jan. 15, 2019 /PRNewswire/ — Dana Incorporated (NYSE: DAN) today announced preliminary financial results for 2018 and guidance for 2019. Preliminary sales and adjusted EBITDA for 2018 are within the previous guidance ranges. Significant organic and inorganic growth are expected to drive higher sales, earnings, and free cash flow in 2019.
Company Announces Preliminary 2018 Financial Results
- Sales of $8.143 billion, an increase of $934 million, or growth of 13 percent, compared with 2017;
- Adjusted EBITDA of $957 million, an increase of $122 million or growth of 15 percent; and
- Margin of 11.8 percent of sales, an expansion of 20 basis points.
Preliminary sales for the year approximated $8.143 million, about 13 percent higher than 2017,
primarily due to strong end-market demand, conversion of sales backlog, and to a lesser extent acquisitions and recovery of material inflation.
Preliminary adjusted EBITDA for 2018 approximated $957 million, a $122 million improvement over 2017. This improvement was driven principally by higher end-market demand, conversion of sales backlog, and acquisition synergies, which were partially offset by higher commodity costs.
Adjusted EBITDA margin was 11.8 percent of sales, a 20 basis-point improvement over 2017. Stronger end-market demand and operational performance more than offset the margin headwind attributable to the effects of higher raw material prices and the associated material recovery reflected in sales.